FPT (FPT) Q1 2025 earnings summary

Executive summary

• Q1 2025 net revenue reached VND 16,058 billion, up 13.9% YoY, with profit after tax at VND 2,596 billion, up 20.1% YoY.

• Growth was mainly driven by the Technology segment, especially international IT services, with strong demand in Japan (revenue up 30.4%).

• EPS grew 20.1% to VND 1,478; PAT to parent company shareholders up 20.9%.

• Technology accounted for 61% of revenue and 47% of pre-tax profit.

• Profit before tax reached VND 3,025 billion, up 19.4% YoY.

Financial highlights

• Gross profit for Q1 2025 was VND 6,301 billion, up from VND 5,510 billion in Q1 2024.

• Basic EPS for Q1 2025 was VND 1,478 (+20.1% YoY).

• Total assets as of March 31, 2025 were VND 73,998 billion, up from VND 72,000 billion at year-end 2024.

• Cash and cash equivalents at quarter-end were VND 6,756 billion, down from VND 9,315 billion at year-end 2024.

• PAT attributable to parent: VND 2,174 billion (+20.9% YoY).

Segment performance

• Global/International IT Services: Revenue VND 8,186 billion (+17% YoY), PBT VND 1,391 billion (+24.8% YoY), led by Japan.

• Domestic IT Services: Revenue VND 1,583 billion (+7.5% YoY), PBT VND 24 billion (-40.3% YoY).

• Telecommunications: Revenue VND 4,465 billion (+14.9% YoY), PBT VND 943 billion (+17.2% YoY).

• Education and others: Revenue VND 1,834–1,901 billion (+3.2% YoY).

• Signed revenue for Global IT Services reached VND 11,505 billion (+17.2% YoY); 9 large-scale projects over $10 million (+125% YoY).